Disclaimer: All of my posts/comments represent only my personal opinion and should not be interpreted as professional advice under any circumstances
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I believe financials are audited but they dont report. I think it has something to do with filing expenses but probably more to do with the fact that they dont want to disclose too much until after they have executed their strategy to uplist. Cant uplist without audited financials so they definitely have to do them regardless. Seems logical they wouldn't wait until last minute to do it and probably have it done and waiting on standby to be disclosed after they are done or when they are ready
They have been late at least twice that I know. The filing before last was late due to changes in the report that the CEO wanted.
Should be Friday I a thinking unless they actually do it on Sunday the last day
I was wondering about the company before they went public and how the company got involved with the shell they went into and why they moved into the next shell/vehicle? The history is a little difficult to follow because there are many pieces to the puzzle. Found out a bunch of stuff about the owners before but that doesnt tell me everything. I was going to ask the CEO himself but it seemed like a long conversation and I didnt want to push it with him. He takes and returns my calls but if I ask about that sort of thing I am not sure what he can legally say or if it will irritate him.
Thank you. I have spoken with Gordo and am working on something with him. Just thought there were others around as well.
Good morning everyone. I hope everyone had a more restful weekend than I did. Had to work Saturday which stinks!
I did have a question for the board. Who here has been around since the beginning of the companys inception if anyone? I have a few questions I was hoping they could help me with?
very true. They probably cant uplist any other way in my opinion. Going to require an M&A execution with a senior traded company. That makes sense to me because it would be a requirement that all companies are audited to be fully reporting.
The fist phase seems to be inventory and share issuance. It seems pretty extensive which is very odd for a non-reporting pink. To me its obvious they are doing something they dont need to do for a reason. You dont go through such a process and expense because you dont have to.Audits on a public company cant cost $100k easily. This isnt being done lightly because its a lot of money to this small company.
its obviously the financials and accounting. He just cant say because of what it could imply. Looks more and more like up-listing is being prepared for
Sorry, I was tied up with a few things. Mr. Umbra isnt the only one working today unfortunately. Much to my wifes displeasure. I spoke with Mr. Umbra briefly about quarterly's, product releases, audits and a few other things.
Quarterlys: Released end of month
Product releases: Athletic socks will be replenished/shipped out from UAT to Amazon U.S., Amazon Mexico and Amazon Canada later in the week. He would not discuss which market they intended to expand to next but did confirm that the UK and Asia markets were targeted. As for the HP line he would not get into specific dates but did say we could expect an announcement in the coming weeks.
Audits: Audits are being conducted on the entire share structure across all series of stock as well as UAT top to bottom to include inventory. He said he expects the first phase of audits to conclude this week with the second phase beginning a week later. He would not define "second phase" or what that specifically included citing insider trading regs and emphasizing that it wouldnt be appropriate to discuss at this time.
We discussed other areas of business but getting into that here now will just be a distraction.
He just called me on my cell phone. He is in fact working today.
good to hear. I have a call out to him as well and did not hear back yesterday. Hopefully I will hear from him today.
I agree. We are getting closer.
FYI: The other day I posted that I ordered socks from Amazon and the company e-commerce website. Some arrived yesterday and I was just told UPS just dropped off the rest at my house.
Socks are in fact in inventory and they are still available for purchase. The only thing that I can tell is that various amounts such as some 3 packs and 6 packs are not available through Amazon but all sizes are available via the company website. They must have the 3 packs bundles to make up specific order sizes such as 6 pack and 12 packs pre-done at Amazon. Seems to support Bobbars e-mail about audits and replenishing inventory on Amazon once completed.
Somehow I doubt that very seriously. You spent $100K+ (according to you, you have been around at a penny plus) and bought 10's of millions of shares in a company you proclaim to be a scam, fraud, SEC is going to shut down and is managed by a CEO that should be in jail? Why would you do invest so heavily in such a ticker?
Yes, restocking AFTER audits. Makes perfect sense. You confirm everything you have before you send it out to sit in a warehouse not knowing if its sold or not. This way confirms how much money is sitting on the shelves and what they have to work with plus many more reasons I do not want to get into explaining here. Clearly this company is "auditing" more than just socks and is doing so for a reason. Audits need to be accurate and for good reason. They are obviously preparing for something.
Let us know when he responds. I would be interested in seeing how he responds.
"only" to be legit? Isnt legit simply just that-legit? and why say "only" as a prefix to "legit". Isnt that a good thing? lol
I guess the CEO was in fact telling the truth when he said they were auditing the share structure
depending on the structure it would be instantaneously relatively speaking. Best part is once they make their announcement we would know exactly what the pps would be and what our gains would be. We would also know where we were headed. Downside, we would not be able to take advantage of it like an IPO but at least we still make money.
I dont think there will be a RS not with this CEO. I agree with Gordo that a RS would be easier and faster for the company but this CEO is not going to do it because of what it would take to get to a NYSE or NASDAQ listing pps and how it would hurt shareholders. He says there is another way and I agree. The only way I see is an M&A transaction but it will have to be damn near perfect to pull it off, make majority of shareholders happy and not spook the senior exchanges. The encouraging part is the law firm they hired is known for up-listing and has a lot of history doing it. I suspect we are going to start hearing about other firms they are bringing in the closer they get to pulling the trigger. I think Gordo is right though, they are not going to tell us anything until the very last second so no one can manipulate or capitalize on the news fast enough to throw anything off. Then it will happen fast.
thank you!!!
Thank you. I appreciate the help. I didnt realize that property was family owned. I see why its privately held. I will dig into the DD. Thanks for the reply. The board here seems more cooperative and helpful than others.
I will and thank you for your help. It is good to have you back and willing to help. We need more of a cooperative here to see if we can get his thing figured out. You did give me an idea though. I think the financing angle could be helpful and I have many relationships that might be able to help. What company doesnt need money right?
Breaking even is an improvement because it means we went up in pps. Its also a step in the right direction and with the right merger we could see incremental and steady increase in pps over time. Its better than the other direction.
I was thinking a reverse merger as well because thats how they went public initially but it could be as you said a buyout into new company but there are challenges with that and could be a little messy. Doable though and in the long run might make the most sense. Not sure I see an S-1 in the immediate future because that would have to be filed and we would see it. I initially thought that would be the easiest way but again that would be complicated because it doesnt support their desire to up-list to senior exchange. It would address some but not all of the issues the company would have to deal with. PPS being the most obvious. My best guess is an M&A transaction with a superior priced target company. That would give the company a chance to address the pps issue without hurting shareholders. Its slightly complicated but it does give the CEO what he says he wants. The only problem I see is finding a company that would be onboard with that so it will most likely be a company that they already have a relationship with or a company the ceo knows the other ceo. Or a company that has mutual banking relationships with. We have been looking but cant find an obvious choice. I have thought that it could be a new company that is filing an S1 to go public then buy UATG but that would mean it could be literally anyone then and we wont be able to figure that out. This would probably be the easiest way to control the pps but again difficult to identify the company. We have already done a search for companies filing an S1 with the names already associated with companies doing business with UATG as well as officers in the company and have not been able to find anything. If you have any feedback on what we could be missing or any ideas where to look let me know.
Good to have you back!
A friend recommended this company but according to their financials they dont seem to have real assets and have a lot of financial liabilities. Cash flow seems moderate but appears to be consumed by bloated operational costs. As for going QB you can do that easily, just pay the $15k fee. You dont need to be fully reporting anymore to be on QB so that doesnt really matter in my opinion. Seems like there is potential here but the budget needs to be managed better and I am not sure the current management cares to change that. I am also very concerned with the structure of assets and cash flow. What protects us as shareholders if the CEO owns the land and the equipment personally off the books so he can have us and the company pay him to lease the equipment. If the company goes under there is no liability to him just us. He still retains the assets personally and we lose. Why hasnt he as a fellow shareholder put the assets in the company in exchange for further equity? It would at least demonstrate that hes all in instead of looking like its a mechanism for him to profit personally. If I am missing something with this company I would appreciate any insight as I am new here. I have just recently gotten into pink sheets in the past year or so and its been a real learning lesson. Very different from NYSE/NASDAQ.
Depends how the M&A is structured. Its done al the time without dilution. Many investors make money on these types of transactions.
When did he say that? I have never seen that or heard that. You know this for a fact?
QX is 0.25 cents and it requires they be fully reporting which they are not unless....
The company has said repeatedly that they are not going to do that even when some here actually suggested they do it. And why do a r/s when you can simply increase the a/s which they have also not done?
If they do a merger that wont come into play.
I am glad you were finally able to speak with him. I agree with you 100%. Did you tell him that you have been trying to reach someone at the company for several weeks? If so, did he address why you were ignored?
The company is not fake or a scam. Its a company that was damaged by people from the inside and management is in the process of recovering and relaunching. I do however agree that the company is taking way too long and if they need capital (which is almost certainly what their biggest problem is) then they need to bite the bullet, go raise the capital and get this thing going. If they already have capital lined up (which I suspect they have either lined up or are in the process of lining up) then they need to get on with it, do what needs to be done to capitalize and get this company launched full throttle. I have called the company, spoke with the CEO and directly asked/offered if he needs help raising capital? He said he didnt but agreed if that changed he would let me know (we invest in companies and could structure a Reg A for them).
The CEO is responsive and sincere. The company manufactures and delivers a product. The company clearly cares about filings and regulations. They are real and it doesnt seem likely that this company with its actions and relationships is a fraud. The company is obviously struggling to get the ball in the endzone. Hopefully they are towards the end of a plan and we will see results soon. If not they need to ask for help so that all of us can see a ROI!
Thats not what I said. My post from yesterday:
Mcol52 Friday, 03/15/19 01:48:35 PM
Re: None 0
Post #
40360
of 40404
I am not sure why anyone would imply that Hygieia is out of product and no longer selling. I just went on my amazon account, searched "hygieia", Thye came up first in the search, and was able to complete an order for a 3 pack and 12 pack of white socks as well as a 12 pack of black socks.
I also went to company website and am able to by 3, 6 and 12 pack of both colors! The company obviously prefers to sell from their website, probably so they dont have to sacrifice part of their margin to Amazon fees.
I will of course let everyone know when I receive my orders from Amazon and the company. FYI, I already received confirmation notifications from both Amazon and the company about my orders being on the way. The company seems to have their act together with order processing. Clearly some time was invested in making their back-end run smoothly.
Look I bought socks yesterday on both Amazon and the company site. Thats not a lie so dont start with name calling. I didnt call you any names. All I did was ask you the same question I have asked for months which you simply wont answer. What difference does it make if they are out of 3 packs or 6 packs? They are the same socks that ARE STILL AVAILABLE JUST IN DIFFERENT COUNTS!? OBVIOUSLY THEY HAVE THE DAMN SOCKS!
Ok, even if they are selling one or two socks as you allege they are doing so consistently (even according to you) every month, because when they are out of stock they re-stock inventory (they have done this many times on Amazon) so how could they have "no" production?
Look I understand you dont like the company but again Why? Why do you harbor such a hatred for this CEO and company? How do you know the CEO? Why do you stay involved with a company you obviously hate? It just seems like you have some insight to offer the rest of us and it would be nice if you would share it. I have done extensive DD on this company (many of us have) and have shared everything I thought relevant. Why not help us out?
By the way, the CEO himself returned my late call from yesterday - Today! Hes in the office (on a Saturday) or at least was this morning when he called me on my cell phone. I told him that there was a shareholder on the board that has called and emailed multiple times with no response from the company. He said he was not aware of this issue and asked me to urge the shareholder to call in and ask to speak with him directly. He said to tell the "girls" that you are the person from the board that has not received a call back and you were instructed by him to call him personally. He also said that this is not typical nor is it acceptable to him so definitely call him and let him know what dates you sent those e-mails so he can research it. CEO is a pretty serious guy and is definitely responsive to shareholders.
A CEO who works on Saturdays and returns shareholder calls consistently even on a Saturday is not the CEO of a fraudulent company. He might have made mistakes and even might be making yet more mistakes but fraud is very unlikely. Some people just might not be good at running a company or a million other reasons but again, fraud? I dont think so in this case. JMO
The company may have its issues (most do) but its not BS. Anyone can see this is a company in the making that is obviously struggling even if the company does not want to admit it. Start-ups always have trouble because well its not easy launching a company and its even more difficult when its a public company facing public scrutiny as is evidenced here. lol. Regardless the company is delivering products and revenue. The company and its CEO are not hiding and communicate with the public and shareholders. Time will tell but the company is operational and appears to be trying to get to the next step.
Ok, I just called the office and told them that I was on a forum where a shareholder has been unable to get a return call or email from the company. I asked if the CEO was there and they said he was there but on a phone call. They said he would call me back. I will let you know if he does.